The mystery behind how VC firms allocate their money is being pulled back a bit. In the last issue, we dug into some of the most-asked questions these companies get.
Now, Jordan Odinsky at Ground Up Ventures is back, zooming in on a specific brand so we can learn the strategy behind how they got their funds.
WHY WE INVESTED IN FRANK
Throughout the year, we meet with hundreds of startups. Sometimes those meetings consist of a founder introducing us to a market opportunity that we never previously considered. Other times, we meet a founder who is actualizing an investment thesis that we’ve long been convinced of. Frank was the latter. Since studying at Wharton Business School, Charlie Javice, founder and CEO of Frank, explored how to best approach the problem of college affordability. It’s no secret that student debt is a major economic crisis plaguing the United States.
According to the news site Bloomberg, there is over $1.5 trillion in outstanding student loans. It’s the “second-largest consumer debt segment in the country after mortgages, and it keeps growing.” So after thoroughly researching the causes of student debt, Charlie concluded that the problem with college affordability starts at the very beginning, with financial aid.
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